Genuine Parts to offer three- and 10-year notes; talk circulates

By William Gullotti and Cristal Cody

Buffalo, N.Y., Jan. 6 – Genuine Parts Co. intends to price two series of fixed-rate senior notes via two bookrunners, according to a 424B5 filing with the Securities and Exchange Commission.

The offering will include notes due Feb. 1, 2025 talked in the Treasuries plus 100 basis points to 105 bps area and notes maturing Feb. 1, 2032 with price talk in the 150 bps area over Treasuries, a market source told Prospect News.

Both series feature a make-whole call and then a par call as well as a change-of-control put at 101 plus interest.

J.P. Morgan Securities LLC and Truist Securities, Inc. are the joint bookrunning managers.

U.S. Bank NA is the trustee.

Proceeds will be used to pay down debt associated with its acquisition of Kaman Distribution Group.

Atlanta-based Genuine Parts distributes automotive replacement parts.

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